It seems counterintuitive, I know. But hear me out...
Today's pharmacy departments have millions of dollars of drug products in inventory, plus several professional level staff members (including pharmacists, technicians, buyers and analysts).
Believe it or not, the product costs far outweigh the labor costs. But as you can imagine in any industry, when looking to reduce costs, labor is often the first thing to get cut. Especially in the mind of an executive who may be unfamiliar with the day-to-day workings of a pharmacy department.
As a pharmacist, I've seen it happen time and again. So how can we as pharmacists explain to our healthcare leaders that the use of clinical pharmacists in both the inpatient and outpatient settings is the most efficient way to control the costs of these ever-increasing drug products?
Here are 5 ways clinical pharmacists help cut
1. Ensure the most appropriate product is used
Clinical pharmacists can ensure that the most appropriate product is used for the diagnosis being treated, thus avoiding the waste of an inappropriate product with failed outcomes.
2. Prevent waste and harm
They can also prevent waste and harm by avoiding products that have not been approved for formulary inclusion at their place of practice. They continually review the latest guidelines and protocols that have been established by experts in this field.
3. Reduce medication misadventures
Clinical pharmacists have successfully targeted reducing medication misadventures or adverse drug events to help reduce lengths of stay.
4. Manage transition of care
They ensure the patient does not experience any gaps in medication therapy by helping manage the transition to the next level of care through medication reconciliation.
5. Manage medications
And in the outpatient setting, pharmacists who help manage the patient's medications, including access and financial assistance, are key in avoiding readmissions.
Bottom line: pharmacists are clinical experts and patient advocates.
They are knowledgeable in regulatory matters, and state and federal laws concerning medications. They, along with other members of the care team, are critical to the long-term success of healthcare organizations and improved patient outcomes. Healthcare leaders who fail to recognize them as partners in the future are not giving them full credit.
Partnerships between the clinical teams and the executives are the best approach to manage drug costs. If clinical positions are removed as an attempt to reduce costs, it's common to see drug costs rise due to the lack of oversight by the trained eye of the pharmacist. It takes time, talent and a continued focus on medication usage to manage these very expensive products. Cutting labor is not the answer. Increasing the right kind of labor may be just the answer.
What do you think? How have you made change happen in your pharmacy department?